Newmont Corporation $NEM is Colrain Capital LLC’s 2nd Largest Position

Colrain Capital LLC reduced its position in Newmont Corporation (NYSE:NEM) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,185 shares of the basic materials company’s stock after selling 14,415 shares during the quarter. Newmont comprises approximately 11.4% of Colrain Capital LLC’s investment portfolio, making the stock its 2nd largest position. Colrain Capital LLC’s holdings in Newmont were worth $20,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new stake in Newmont during the 4th quarter worth $25,000. Cornerstone Planning Group LLC boosted its stake in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont during the 3rd quarter worth $27,000. Lodestone Wealth Management LLC acquired a new stake in Newmont during the 4th quarter worth $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Newmont during the 4th quarter worth $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. TD Securities reaffirmed a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Bank of America lifted their target price on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Argus lifted their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

Newmont Stock Up 5.1%

Shares of NYSE:NEM opened at $97.52 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $111.21 and a two-hundred day moving average of $110.05. The stock has a market cap of $104.11 billion, a P/E ratio of 12.65, a PEG ratio of 1.54 and a beta of 0.42. Newmont Corporation has a 52-week low of $54.14 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. On average, research analysts expect that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Insider Buying and Selling

In other news, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,950 shares of company stock worth $5,494,288 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.